Gold Fields (NYSE:GFI) Rating Lowered to Sell at Zacks Investment Research

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Zacks Investment Research downgraded shares of Gold Fields (NYSE:GFI) from a hold rating to a sell rating in a research note released on Tuesday, September 18th.

According to Zacks, “Gold Fields Limited is one of the world’s largest unhedged gold producers with operating mines in South Africa, Ghana, and Australia. “

A number of other research analysts also recently commented on GFI. ValuEngine downgraded Gold Fields from a hold rating to a sell rating in a research note on Wednesday, June 6th. Scotiabank set a $4.00 price objective on Gold Fields and gave the stock a hold rating in a research note on Tuesday, August 14th. HSBC upgraded Gold Fields from a hold rating to a buy rating in a research note on Friday, August 17th. Finally, Royal Bank of Canada upgraded Gold Fields from a sector perform rating to an outperform rating in a research note on Tuesday, September 18th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Gold Fields currently has an average rating of Buy and an average target price of $5.02.

GFI remained flat at $$2.79 during trading on Tuesday. The company had a trading volume of 6,136,501 shares, compared to its average volume of 3,984,880. The company has a market cap of $1.99 billion, a P/E ratio of 11.63 and a beta of -1.28. Gold Fields has a 52-week low of $2.20 and a 52-week high of $4.54.

The firm also recently declared a semiannual dividend, which was paid on Thursday, September 20th. Stockholders of record on Friday, September 7th were paid a $0.0141 dividend. The ex-dividend date of this dividend was Thursday, September 6th. This represents a dividend yield of 1.11%. Gold Fields’s payout ratio is 8.33%.

Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can grew its stake in shares of Gold Fields by 8.8% in the second quarter. Bank of Montreal Can now owns 324,875 shares of the company’s stock worth $1,160,000 after purchasing an additional 26,215 shares in the last quarter. Jane Street Group LLC boosted its stake in Gold Fields by 446.2% during the second quarter. Jane Street Group LLC now owns 1,257,181 shares of the company’s stock valued at $4,488,000 after buying an additional 1,027,015 shares in the last quarter. Schroder Investment Management Group boosted its stake in Gold Fields by 15.4% during the second quarter. Schroder Investment Management Group now owns 1,322,505 shares of the company’s stock valued at $4,669,000 after buying an additional 176,305 shares in the last quarter. Van ECK Associates Corp boosted its stake in Gold Fields by 11.8% during the second quarter. Van ECK Associates Corp now owns 100,460,925 shares of the company’s stock valued at $358,646,000 after buying an additional 10,606,292 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in Gold Fields by 73.5% during the second quarter. Canada Pension Plan Investment Board now owns 944,000 shares of the company’s stock valued at $3,370,000 after buying an additional 400,000 shares in the last quarter. 34.73% of the stock is owned by institutional investors.

About Gold Fields

Gold Fields Limited produces gold and holds gold reserves and resources in South Africa, Ghana, Australia, and Peru. The company engages in underground and surface gold and surface copper mining and related activities, including exploration, extraction, processing, and smelting. It holds interests in seven operating mines with an annual gold-equivalent production of approximately 2.2 million ounces, as well as gold mineral reserves of approximately 49 million ounces and mineral resources of approximately 104 million ounces.

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